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PM Modi launches 2 new RBI Schemes to retail investors, Know all about them

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On Friday (12 November), Prime Minister Narendra Modi has lauded the two new innovative customer-centric initiatives of the Reserve Bank of India (RBI).

PM said in the meeting, that these two schemes will expand the scope of investment in the country. The two schemes are – the RBI Retail Direct Scheme and the Reserve Bank- Integrated Ombudsman Scheme.

PM Further added – “The RBI Retail Direct Scheme will help small investors to get a simple and safe medium for Investing in Government Securities. While with the Integrated Ombudsman Scheme, One Nation, One Ombudsman System has taken shape in the banking sector today.”

PM Said – The country has many expectations from RBI, I hope ‘team RBI’ will live up to the expectations. The period of Azadi ka Amrit Mahotsav is very important for the development of our country. In such a situation, the role of RBI is also very big.

While RBI Governor Shaktikanta Das said – “RBI is continuously working on leveraging technology and innovation for enhancing the efficiency. RBI’s developmental role is focused on further deepening of financial inclusion and undertaking people centric initiatives.”

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“The RBI Retail Direct Scheme aims to enhance access to the government securities market for retail investors. It offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments. Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.” He Further added.

The Reserve Bank – Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI. The central theme of the scheme is based on ‘One Nation-One Ombudsman’ with one portal, one email and one address for the customers to lodge their complaints.

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